ProHT TREND EA trades on EURUSD, AUDUSD, CADCHF, EURCAD, GBPUSD, USDCAD, USDCHF and requires a high frequency brokerage. The algorithm provides a trial version that is valid for 2 weeks so that users can check the robot’s performance before investing. We will shed some light on the positives and negatives of the EA to provide our readers with more information.
ProHT TREND EA: to trust or not to trust?
Backtesting is not available for the EA, making it hard for their clients to verify the robot’s historical performance. Verified records are public in the form of a YouTube video. This kind of approach by the company is disappointing and raises questions about the robot’s reliability.
Following are the features of the expert advisor:
- It uses MetaTrader 4 platform for trading.
- It comes with free updates.
- The system allows auto trading 24/5.
- It works on multiple trading currencies.
- The robot has an easy installation method.
The developer states that the robot can trade on multiple currency pairs and requires leverage of 1:30 to 1:2000. It uses trend and support/resistance levels for finding trading opportunities.
From the history of Myfxbook records, we can observe that it has a high stop loss of around 100 pips with a small take profit of 20 pips. The average trade duration of 14 hours and 50 minutes confirms the day trading approach. It also uses a grid strategy on multiple currency pairs.
How it works
As the seller claims, every pair should have a different magic number while attaching the robot onto the charts.
Use the following method to make the system workable.
- Buy the robot from the website
- Get the files into your computer via clicking on the download button
- Open your MetaTrader 4 on your computer and sign in to your account
- Bring the downloaded robot files into the charts section
- Permit auto-trading
Pricing and refund
The single purchase comes at $99 with tax included and is on sale. The user should fill out the contact information and billing address details to continue with the order. The product provides free updates and a lifetime license. As stated by the developer, the support team answers back within 24 hours after being contacted by their clients.
The company does not provide any refunds with the purchase.
The robot has no customer feedback on trusted third-party sites such as Forex Peace Army or Trustpilot.
The seller provides no backtesting and states that the robot can not be tasted. Historical records are a vital element in the trading market, verifying the product’s reliability. No previous stats mean we cannot analyze the win ratio, profit factor, drawdown, and profitability of the EA.
The live records on ProHT are available on a demo account starting from March 22 2022 till the current date. The algorithm had a total gain of 6.12%. There were a total of 204 trades with a winning rate of 71% and a profit factor of 1.61. The worst trade was -$56.05 while the best was $41.54.
Although the drawdown is 3,16%, the current records are for a short duration. So it’s insufficient for us to give a final verdict for the drawdown. It is possible that the risk value may increase in the future.
The vendor is not transparent about its portfolio and does not provide any documentation. There is no evidence of a developer profile on a platform like LinkedIn. Users can reach the developer and type them a message by filling out the form provided on their website.